Abu Dhabi’s financial regulator is joining a cross-regional pilot testing post-quantum cryptography for digital asset transfers, alongside regulators in Bhutan and Malta. The Responsible Fintech Institute (RFI) and Safeheron launched the initiative, with banks including Portugal’s Bison Bank and DK Bank taking part.
The pilot runs a multi-party computation (MPC) protocol built around ML-DSA-65, the digital signature standard set out in NIST FIPS 204, with participants testing wallet generation and on-chain transfers on the quantum-resistant NEAR testnet. Regulators take an observer role in the first phase before moving into a governance workstream. A whitepaper is planned, and Safeheron intends to open-source the protocol code.
“No single bank, vendor, or regulator solves this alone. By bringing policymakers and financial institutions across jurisdictions together to test the same post-quantum architecture, and transparently sharing that research with every participant, we are building a compliance and security reference the whole industry can stand on — and a standard we all helped write.”
Chia Hock Lai, chairman of the Responsible Fintech Institute
Safeheron’s chief security and policy officer, Jag Foo, said the firm would open up the code: “Cryptography securing institutional assets should stand up to independent scrutiny, not ask for trust.”
Why post-quantum cryptography matters for digital assets
Quantum computers are expected to break the public-key cryptography that underpins much of today’s financial system. The Bank for International Settlements said in a 2025 paper that the transition to quantum-safe systems needs coordinated planning, cryptographic agility and phased migration, rather than a single algorithm swap.
Regulators are already moving. Hong Kong’s central bank has embedded quantum readiness into its Fintech 2030 strategy, with a Quantum Preparedness Index and a stated ambition of full sectoral readiness by 2030. In July, Singapore’s central bank and banking association set up a taskforce on AI-driven cyber risk.
What Abu Dhabi’s participation means
ADGM is Abu Dhabi’s international financial centre and home to regulated crypto operations: Binance runs its licensed exchange under the framework, and Coinbase set up its tokenisation hub there. The UAE has also backed quantum security before — the Technology Innovation Institute worked with Honeywell on a quantum-secure satellite link.
What is post-quantum cryptography?
Post-quantum cryptography covers cryptographic algorithms built to resist attacks from quantum computers, which are expected to eventually break the public-key cryptography the financial system relies on today.
Who is taking part in the pilot?
Regulators from Abu Dhabi (ADGM), Bhutan (Gelephu Financial Services Office) and Malta (MFSA), plus banks Bison Bank and DK Bank, with more institutions in discussion.
What will the pilot produce?
A whitepaper covering the research, protocol design and test findings, plus open-sourced protocol code from Safeheron.
